For Quick Alerts
For Daily Alerts

Sovereign Gold Bonds 6th Tranche Issue Price Fixed At Rs. 5117/Gm


For the sixth tranche of sovereign gold bonds (SGBs) for the FY 2020-21, the central bank has fixed the issue price at Rs. 5117 per gm. Investors who apply online and make payment for the application via the digital mode will get a discount for Rs. 50 per gm, and for them the issue price shall be Rs. 5067 per gm. The SGB VI tranche for FY 2021 issue opens on August 31 and closes on September 4.

Sovereign Gold Bonds 6th Tranche Issue Price Fixed At Rs. 5117/Gm

The issue price or nominal value of these SGBs issued by RBI on behalf of the centre is decided basis the average closing price for gold of 999 purity of the last three working days just preceding the subscription period.

In futures market, gold on Friday (August 28, 2020) settled higher by 1% or Rs. 546 at Rs. 51448 per 10 gm.

These bonds are denominated in multiples of gram(s) of gold with a basic unit as 1 gm. The investment tenure for the bonds is eight years with the option to exit after fifth year. And the redemption price is based on the then market rate for gold. SGBs score over gold mutual funds and ETFs as any capital appreciation on maturity shall be tax-free.

Read more about: sovereign gold bonds sgbs
Story first published: Saturday, August 29, 2020, 8:32 [IST]
Company Search
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X